India Financial News

Agrochemical firm Crystal Crop Protection on Monday said it has acquired Bengaluru-based I&B Seeds as it seeks to strengthen its position in India's vegetable and flower-seed segment. «The deal has been fully executed with shares purchased from two major shareholders. The share transfer was completed last week on the day of Diwali,» Crystal Crop Protection Managing Director Ankur Aggarwal told PTI. The company, however, did not disclose the deal amount. The acquisition was funded through internal accruals and marks Crystal Crop's fifth purchase in the seeds business and twelfth overall.

France, Germany, Italy, Japan, and Spain shared the second place, granting their citizens visa-free access to 192 countries, as per the latest rankings. The United States ranked 8th, giving its citizens visa-free entry to 186 countries.

Shein and Temu have transformed the fashion landscape across Europe and the United States. In the U.S., Shein and Temu are challenging Amazon's dominance, while in Europe, they are reshaping the market by competing aggressively with established fashion retailers like Zara and H&M, reported The Times of India (TOI). The appeal lies in their ultra-low prices and vast product ranges, making long-standing retailers seem less competitive in comparison. Zara and H&M are feeling the pressure, as Temu and Shein are often able to undercut their prices and deliver faster, feeding a growing demand for ultra-fast fashion in Europe. Recently, however, Temu has come under scrutiny in Europe. The European Commission, the EU's executive arm, has reportedly launched an investigation into Temu, following suspicions that the company may not be effectively preventing the sale of illegal products. This probe, reported by the Associated Press, follows Temu's addition to the EU’s list of “very large online platforms,” which are subject to stringent oversight under the Digital Services Act (DSA).

Canada, Union Minister Ravneet Singh Bittu on Monday accused Canadian Prime Minister Justin Trudeau of creating divisions among different communities in the country. «The news reports coming in over the past few days, the situation that has formed in Canada do not pertain one particular religion. Be it Hindu or Sikh, PM Trudeau has divided everyone there,» Union Minister Ravneet Singh Bittu said. Bittu criticized both those advocating for pro-Khalistan slogans and the Canadian police for their support, stating that the Indian Government will respond to the situation with a more decisive action.

These awards not only honour achievements but also spotlight individuals who have changed the trajectory of industries and economies. They embody the fusion of innovation and leadership at the highest level, with past recipients reading like a Who's Who of global icons: the late Ratan Tata, John Chambers, Kris Gopalakrishnan, Uday Kotak, Indra Nooyi, Azim Premji, and other titans who have left an indelible mark on the world stage. The 2024 honorees—Narayana Murthy, Shantanu Narayen, and Abhinav Asthana—now join these legends.

«There are some global factors as well that what is the trajectory of China's stimulus, so that has been one of the key factors, which in the last year, when some of the FIIs might have thought about China also as an investment class. But after that, again, China has corrected as well,» says Shreyash Devalkar, Axis Mutual Fund. The Nifty is down more than 2000 points from its September highs. Do you expect more correction to come in or are the valuations now looking attractive? How are you reading into this fall in the markets? What could have been the reason? What could be the reason for the Nifty to consolidate at these levels? What are your views when it comes to the Indian markets? Shreyash Devalkar: So, yes, we have seen that Indian market correcting, especially in last month, multiple factors has started affecting it. First and foremost, obviously, the valuations we have observed has been high in India. And when we say high, it is in the context that in across sectors, it is at least almost 30% to 200% higher than pre-COVID level as far as valuations are concerned, barring probably private sector banks, everywhere else this was observed and so that is actually the one point which has led to this correction.

Pralhad Joshi on Monday said India has been re-elected as the President of Indian Solar Alliance (ISA) from 2024 to 2026. Addressing the press conference at 7th General Assembly of the ISA, Joshi informed that France has been reelected as Vice-President of the ISA. India's election to the President post is a testament to the impactful work the country, under the leadership of Prime Minister Narendra Modi, has been doing over the years for the global good in advancing solar energy adoption across the globe and boosting investment in essential solar projects, including mini-grids and healthcare solutions, Joshi opined. Eight Vice Presidents of the Standing Committee, two from each of the four ISA geographical regions, were also selected by the Assembly.

Subscribe to enjoy similar stories. Astronomical corner-office pay packages have sparked debate worldwide, including in India. A Mint analysis of India's largest listed companies reveals that median remuneration for top executives grew by 8.6% in FY24, marking a slowdown compared to FY23.

Subscribe to enjoy similar stories. Grasper Global Pvt. Ltd, the parent of new-age educational toy and games maker Skillmatics, will look to list in India over the next 2-3 years, said co-founder and chief executive Dhvanil Seth in an interview with Mint. The Peak XV-backed company is also exploring newer categories such as gaming for adults and home and nursery, Seth added.

GAIL (India) Ltd. traded at Rs 197.05 on BSE at 01:18PM (IST) on Monday, 1.57 per cent from previous close. The scrip quoted a 52-week low price of Rs 118.75 and a high of Rs 246.35.

IPL) 2025 season is expected to be held in Riyadh at the end of this month, according to sources. All ten franchises have announced their list of retained players for the IPL 2025, which turned out to be full of surprises and some expected decisions. As all teams have retained the players that they feel will be core to their success in the upcoming season of the cash-rich league, all eyes have now shifted towards the mega auction.

«We will get to know in the next few days how it goes, that typically means higher yields and stronger dollar, which is against what the market had factored in. But the underlying reason is that our valuations were rich and earnings are not supporting it, that is causing and compounding the problem,» says Gurmeet Chadha, Complete Circle Consultants. There are geopolitical events, there are elections in US, US markets are holding on, Asian markets are holding on, but India is reacting to what could happen to American elections. So, why are we pre-empting and reacting to every event in the world? Gurmeet Chadha: It has been a combination of two-three factors. I agree it has largely been FII sell-off, I mean, probably a record number in October. Never personally seen every single trading session, FII selling and that has been compounded by two things. One, the earnings and the monthly updates we get on different sectors, including auto and high-frequency sectors, which indicate economic momentum, have been a little underwhelming.

Rohit Sharma and Virat Kohli are under the spotlight as they prepare for the high-stakes Border-Gavaskar Trophy against Australia which will bein November 22. Former India pacer Karsan Ghavri, in an exclusive interview with TimesOfIndia.com, said that their future in Test cricket could hinge on their performances in the series. “If they don’t perform in Australia, Virat and Rohit should retire,” Ghavri said. The former left-arm seamer noted that despite their legendary status and achievements, the team needs dependable run-scorers to compete at the highest level.

Sensex has lost over 7,700 points in a matter of just 5 weeks or 25 trading sessions. After hitting a record high of 85,978 points on 27 September, Sensex fell for four consecutive weeks before consolidating in the Diwali week. Ahead of two key events — the US election and the Fed meeting — traders chose to opt for a risk-off mode on Monday when the Sensex fell nearly 1,500 points. Nifty fell about 2% to 23,800 — its lowest level since August 6.

Nilesh Shah, MD, Kotak AMC, says the returns we have seen in the last three and five years are unlikely to be repeated over the next three and five years. Last five years’ returns from Jan ‘20 to September ‘24 were about 21% for the broad market and about 30% plus for small and midcap. Those returns are unlikely to be repeated over the next three or five years. The returns could still be in the low double digits, if there is a fair possibility that India continues to deliver and our peers continue to score a self-goal. In the last couple of weeks, it has been local versus global. Globally, things are okay, locally, things are bad. Do you think this trend of local versus global will continue? Nilesh Shah: In some sense, local and global are two opposite sides of a coin and in some sense they are on the same side. If stock prices go up, both local and global investors benefit. But the driver for local and global investors could be different. Global investors have a much wider plate to invest into. Local investors, by definition, are constrained to invest in India. Global investors often come down or top down, though many of them have established offices in India.

Subscribe to enjoy similar stories. As the rich world ages and faces chronic labour shortages, even as productivity slows, the silver generation—those over the age of 50 years—can be a valuable demographic group. Not only to overcome these challenges, but also transform the way society functions.

Colgate-Palmolive (India) Ltd. 2.46 per cent to Rs 2990.40 in Monday's trade. It hit a high of Rs 3057.45 and low of Rs 2982.05 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 3003.1, while the 50-DMA was at Rs 3537.88. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Non-resident Indians (NRIs) now have a faster, more convenient option than traditional wire transfers to send money to family or make payments in India. The National Payments Corp. of India (NPCI) has extended UPI access to NRIs who hold non-resident external (NRE) or non-resident ordinary (NRO) accounts. This expansion allows NRIs to conduct instant transactions from their smartphones using UPI linked to their international mobile numbers, simplifying financial connections with India.

Subscribe to enjoy similar stories. Stock market experts have cautioned investors that past performance is not a crystal ball for future gains. Given the Nifty 50 index’s hefty 26% return over the past year, investors may need to scale back their return expectations for equities.

Mahindra & Mahindra announced on Monday that it will be unveiling two new electric SUVs on November 26, 2024, in Chennai. The new models, named XEV 9e and BE 6e, will make their global debut at the company's «Unlimit India» event. The company noted that these vehicles will be the first models to launch under two new electric sub-brands, XEV and BE, both of which are built on Mahindra's innovative Electric Origin INGLO architecture.

Afcons Infrastructure surged 8.4% to Rs 461.7 on the NSE after their weak debut on the exchanges on Monday. The stock debuted at Rs 426 on the NSE, reflecting a discount of Rs 37 or 8% over the IPO price of Rs 463. Meanwhile, the stock debuted 7% lower at Rs 430 on BSE.